Paris, September 8, 2022


The Nov Santé Actions Non Cotées fund – initiated by France Assureurs and Caisse des Dépôts, managed by Eurazeo1 and focused on enhancing the French healthcare sector – is pleased to announce that, with Bpifrance, it has completed an investment of more than €50 million in Imapôle, acquiring a minority stake alongside the shareholder-radiologists that founded the company.

A leading player in medical imaging based inthe east of Lyon

Imapôle was founded in 2018 following the merger of three large clinics located in the eastern area of Lyon, initiated by Dr Reza Etessami. It is a medical imaging group with 24 machines including four scanners and two MRI machines and handles 170,000 patients per year. The main site is connected to Medipôle Lyon-Villeurbanne, France’s largest private hospital with 750 beds and a 24/7 emergency department Imapôle is at the forefront of the care offering in its catchment area, which is short of imaging capacity. It strives on a daily basis to improve prevention and monitoring of medical conditions like neurodegenerative, cardiovascular and respiratory diseases and oncology.

To meet the growing demand for imaging and raise the quality of diagnostics, the Group has implemented for several years artificial intelligence and remote radiology solutions. It has also redesigned the patient pathway by using digital technology, reducing waiting times and lost opportunities for patients.

Imapôle has 56 employees and around 10 shareholder-radiologists. The company generated revenue of around €15 million in 2021 and has a proven track record of strong growth, with revenue growing at an average rate of over 8% per year in recent years.

Imapôle’s medical project has been historically proven in its established centers and the group is embarking on a new phase of its development, with a strategy combining organic growth with acquisitions. The group now has the backing of the Nov Santé Actions Non Cotées fund (managed by Eurazeo) and Bpifrance, benefiting from both their healthcare expertise and their support in the implementation of the Group’s strategy.

Arnaud Vincent, Managing Director of the Nov Santé Actions Non Cotées fund

“Nov Santé fund’s dedicated team is very happy to be working with Imapôle on its next expansion phase, and to bring Eurazeo’s expertise in healthcare and private equity. For the first time since the fund was launched, we are investing in the healthcare operators’ segment through a group whose medical project is at the core of its strategy and that is using the latest technologies to address medical deserts and make diagnostics more reliable, in line with Nov Santé’s objectives. Prevention is a critical public health matter that is central to government objectives, and one that is supported by the insurance companies that invest in our fund.”

Dr Reza Etessami, Chairman and co-founder of Imapôle

“We are delighted to have alongside us top-tier partners such as Eurazeo and Bpifrance, who will support our strategy of developing a leading medical imaging group while continuing to put the quality of care at the forefront of our ambitions. We want to offer an alternative to existing groups, developing an approach that genuinely focuses on delivering a medical project and with a management team consisting of medical practitioners, supported by the most effective digital tools. The platform and expertise provided by Eurazeo and Bpifrance are giving us vital support in all these areas.”

Ronan Lefort, Investment Director at Bpifrance

“By integrating digital tools with artificial intelligence, Imapôle can address a significant demand from patients and medical authorities and improve the diagnostic quality while increasing productivity to reduce waiting times. With Imapôle, Bpifrance – which has initiated the French Care movement alongside numerous participants in the healthcare industry – is fulfilling its role as a provider of finance and support to innovative and ambitious French healthcare companies.”


1 Through Eurazeo Investment Manager


Information - Individual investors

Eurazeo Investment Manager (EIM) and Eurazeo Mid Cap (EMC) are merging to form Eurazeo Global Investor (EGI)